Category: Economy and Markets
Global equities off to poor start, Brent crude at 11-year low
Jan 07, 2016 (LBO) – Global equity markets are off to their worst start since 2000, with a weaker Chinease yuan sparking concerns about the global economy, as Brent crude fell to a 11-year low of 34.23 dollars a barrel. The MSCI All-Country World Index ended the first three days of 2016 down by 3.3 […]
‘s Treasury bill yields up across the board
Jan 06, 2015 (LBO) – Sri Lanka’s Treasuries yields were up with the 12-month yield rose 12 basis points to 7.42 percent at Wednesday’s auction, as statement said. 6 month bills rose 10 basis points to 6.93 percent while the 3-month yield rising 14 basis points to 6.59 percent, data from the state debt office […]
Sri Lanka stocks close down 0.4-pct: Foreign participation 83-pct
Jan 05, 2016 (LBO) – Sri Lankan stocks closed down at 0.43 percent for a third consecutive day with losses in illiquid stocks, brokers said. The Colombo benchmark All Share Price Index closed lower at 27.65 points at 6,817.65 down 0.40 percent. S&P SL20 closed 13.07 points down at 3,573.18 down 0.36 percent. Turnover was […]
Sri Lanka’s Orient Finance to raise Rs1bn through IPO
Jan 06, 2016 (LBO) – Sri Lanka’s finance sector player Orient Finance is to raise one billion rupees by way of an Initial Public Offering. The company will offer 71.5 million ordinary shares at 15 rupees each, the company said in a stock exchange filing. The finance company formerly known as Bartleet Finance has obtained […]
CSE obtains exchange control approval to list foreign companies
Jan 06, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange has obtained exchange control approval from the Finance Ministry to start listing foreign companies in dollar denominated securities, CSE Chairman Vajira Kulatilaka said. Kulatilaka told LBO that the idea is to make the country a regional hub for financial activities. “This is the first step […]
PTL Watch: Yield curve flat, T-bill yields up at auction
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HNB Grameen shares to be listed in CSE
Jan 06, 2016 (LBO) – Hatton National Bank’s micro finance arm, HNB Grameen, is to list its shares in the Colombo Stock Exchange shortly, Managing Director of HNB, Jonathan Alles said. Alles was speaking at the trade opening ceremony conducted at the CSE yesterday. “In the HNB group, Lanka Ventures, HNB Assurance are listed and […]
Sri Lanka, Pakistan consider currency swap agreement
Jan 06, 2015 (LBO) – Sri Lanka and Pakistan will considering entering into a currency swap agreement, the Prime Minister of Pakistan Nawaz Sharif said speaking in Colombo. The two countries will also look at a joint investment company, he said speaking at the launch of the single country trade exhibition. Sri Lanka has a […]
Sri Lanka stocks close down 0.3-pct
Jan 05, 2016 (LBO) – Sri Lankan stocks closed down at 0.33 percent with losses in index heavy and some banking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed lower at 22.32 points at 6,845.30 down 0.33 percent. S&P SL20 closed 8.19 points down at 3,590.69 down 0.23 percent. Turnover was […]
Foreign funds overweight on India bonds
Jan 05, 2016 (LBO) – India has a positive story for bonds with some foreign funds investing in emerging markets overweight on Indian bonds, a report said. Falling oil prices improved Indian government finances — the country is a net importer of oil — while a stable currency and limited exposure to China supported these investments. […]
US, European markets tumble after China rout
Dec 05, 2015 (LBO) – U.S. and European markets tumbled following a seven percent crash of the China stock market after a survey indicated China’s manufacturing contracted for another month. The Dow Jones index closed down 1.58 percent, S&P fell 1.53 percent and Nasdaq closed down 2.08 percent. The FTSE slumped 2.39 percent, and DAX […]
‘s CB to take-over Entrust Securities
Jan 04, 2015 (LBO) – Sri Lanka’s Central Bank is to take-over Entrust Securities Plc, primary dealer in government securities if the company fails to submit a viable restructuring plan today, Governor Arjuna Mahendran said. If a re-structuring plan is not submitted by 6 p.m today the company will be taken-over to protect the government securities market and […]